Elliott waves analysis – Resell the US Dollar from 1.2696 with your take profit at 1.21804.

GBPUSD – Flat

Wave Analysis

The previous day’s candle was a perfect bearish pin bar candle. As we mentioned on our previous forecast, As long as the price remains below the level 1.2696, we expect nothing but a possible decline towards 1.21804. The idea here is to wait for a possible correction to pick a long term short position with an ultimate target at 1.21804. If you’re not in any position as at the time of writing this article, then wait for a correction, or place a pending sell limit order at 1.2696, and have your take profit at 1.21804.

Trade Recommendations:

Resell the US Dollar from 1.2696 with your take profit at 1.21804.

Be the first to get $5 for participation in the webinar 8.30 GMT!

You may check other analytical reviews on FreshForex website. Source: freshforex.com.